South Korean investments into Russian economy top 200 million dollars

The South Korean investments into the Russian economy have topped 200 million dollars, said official spokesman for the Russian Foreign Ministry Alexander Yakovenko on Friday in the interview to RIA Novosti.

"The Republic of Korea is one of Russia's biggest trade partners in Asia," said Yakovenko. The trade between the two countries in 2002 amounted to 3.28 billion dollars.

"The investments of the South Korean in Russia amounted to 202 million dollars. Several large-scale projects of economic cooperation are being worked out now," added Yakovenko.

"New possibilities for the further development of business partnership in the sphere of trade and investments are opening after the achievement of an agreement on settling the problem of Russia's debt to the Republic of Korea (some two billion dollars)," specified Yakovenko. The inter-governmental agreement on this score was signed on September 18, this year, in Moscow, Yakovenko reminded the correspondent.

"Russia hoped for a more intensive participation of Korean business in the investment activity in the territory of our country, and for its part it is ready to take measures for our economic cooperation become long-term and large-scale one," concluded the spokesman for the Russian Foreign Ministry.